New Trump sanctions on Iran take effect despite pleas from allies

Patrick Harmon

The US has re-imposed tough, unilateral sanctions against Iran, bringing back into effect harsh penalties that had been lifted under a historic, multi-party nuclear agreement that US President Donald Trump abandoned in May.

Mr. Erdan was speaking after European Union foreign policy chief Federica Mogherini said the bloc is actively encouraging enterprises to increase their business with Iran.

Rouhani, who has denounced Trump's decision to quit the accord, is expected to address his nation later on Monday.

Washington accepts that Iran has complied with the terms of the 2015 deal reached under Trump's predecessor Barack Obama, but says the agreement is flawed because it is not strenuous enough.

It called on the global community "not to allow such significant achievements in multilateral diplomacy to be sacrificed in the name of American aspirations to settle political scores with Iran".

Iranians are already seeing the effects of the sanctions, with Iran's rial currency losing around half its value since Mr Trump announced the USA would withdraw from the 2015 nuclear accord.

The measure is part of a broader European Commission response, known as the "blocking statute", that also allows the firms to recover damages arising from United States extra-territorial sanctions.

Foreign Office minister Alistair Burt has moved to reassure businesses they will not face legal action in connection with deals with Iranian firms.

"This is an indication of how strongly we feel that the Iranian nuclear weapons program, its ballistic missile program, it's support for terrorism, it's belligerent activity in the Middle East have to stop", Bolton said. The country's rial currency has fallen in value and the downturn has sparked protests across the nation.

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A combination of two pictures shows U.S. President Donald Trump (L) on July 22, 2018, and Iranian President Hassan Rouhani on February 6, 2018.

His warning was apparently meant at the European Union which put into force a law banning companies from complying with United States sanctions or court rulings and enabling them to claim compensation for potential damage.

Many large European firms are leaving Iran for fear of United States penalties, and Mr Trump warned of "severe consequences" against firms and individuals that continued to do business with Iran. "I am asking for WORLD PEACE, nothing less!" he said.

The foreign ministers of France, Germany and Britain pledged in a joint statement on Monday to work on preserving financial flows and Iran's oil and gas exports.

More U.S sanctions targeting Iran's oil sector and central bank are to be reimposed in early November.

Some companies already suspended trade in anticipation of the new sanctions.

The "Trump Administration wants the world to believe it's concerned about the Iranian people", Iranian Foreign Minister Mohammad Javad Zarif said on Twitter.

"Prices are rising again, but the reason is government corruption, not USA sanctions", said Ali, a 35-year-old decorator in Tehran.

Rouhani praised Europe for "resisting the Americans" in its call "to join the regime of sanctions".

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